Electronic products firm Premier Farnell posted a 17.8% decline in third quarter profit and said while it remains cautious on the global economic outlook, the business responded well to the challenging environment.
Pre-tax profit in the quarter ended 30 October fell to £19.4m from £23.6m the year before. Total revenue fell to £241.8 during the period from £251.3m previously. Operating profit was down at £25.8m from £27.4m.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Overhead costs year to date are down by £4m while third quarter gross margin fell 2.1% at 38.6%.
The UK saw growth of 4.2% during the quarter, while Europe as a whole grew 0.6% year on year.
November sales per day showed progression on the third quarter but remained down from November last year.
Chief executive Harriet Green commented, "Through focus on the strategic delivery of our key metrics - web penetration, growing our EDE active customer base and growth in profitable MRO segments - Premier Farnell has proven its resilience and agility through the economic cycle, maintaining an industry leading return on sales and with a track record of acting swiftly and decisively to shape our business."
"This will allow us to continue to generate cash and benefit strongly from the recovery when confidence returns."
--
cj
-
Lioness legend Jill Scott: “I want to be a role model to get women into investing”Lioness Jill Scott says she wants to be a role model for women to start investing, in the same way she inspired girls to play football. She also questions why topics like investing, tax and mortgages aren’t taught in schools
-
UK dividends payments drop 1.4% with investors raking in £1 billion less than last yearInvestors in UK firms were paid a total of £24.6 billion in dividends in the third quarter of 2025, down 1.4% from the same period last year as UK companies come under pressure.
